StockMarketWire.com - Gold exploration and development company Kefi Gold and Copper reported narrower annual losses following a gain on the partial sale of its stake in the Saudi joint venture company Gold and Minerals.

For the year ended 31 December 2020, pre-tax losses narrowed to $3.7 million from $5.6 million year-on-year.

During 2020, the company diluted its interest in the Saudi joint-venture company Gold and Minerals Limited from 40% to 33.65% by not contributing its pro rata share of expenses to G&M.

This resulted in a gain of £1,033,000.


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